US Markets Today: High Open, Could Remain Range Bound

21 November 2017 (8:58 AM EST)

For the second day today, U.S. stock futures are rallying with European markets, indicating a higher opening in U.S. markets soon.

Major U.S. indexes have been trading in a broader range since last two weeks and even after a gap up opening today, it is expected that U.S. markets will remain within that range.

Futures of Dow Jones are more than 100 points up and if the index follows similar gains after the opening bell, it will open near its one of the current resistance levels of 23,550.

From there, this mega index can either continue to climb, touch/ surpass previous record high of 23,600, or, it could turn sideways, respecting previous resistance of rage tops and trade in a narrow rage. The third possibility will be that the index drops lower from its high opening levels and trades continuously low through the session within previous rage levels.

All you have to do is wait and watch which of these three possible intraday trend scenarios will unfold, and then trade with the same.

Good luck, enjoy the session!

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